Fenway Sports Group have been polarising figures at Liverpool.
Since taking over at Anfield in 2010, fans have criticised the American owners for not spending enough compared to their Premier League rivals.
Liverpool have always taken a more cautious approach when it comes to transfers, hence why Federico Chiesa was the only star added to Arne Slot’s squad over the last two transfer windows.
Jamie Carragher has defended FSG’s approach as it was proved to work over the last decade under Jurgen Klopp and now Slot.
The American owners have helped deliver every trophy possible to Liverpool fans under their leadership and more importantly, the Merseyside club are very healthy financially and have not been limited by the Premier League’s Profit and Sustainability rules.
The latest accounts out of Man United justify FSG’s cautious approach as the Manchester club’s spending recently will hamper how quickly the Red Devils will return to the summit of English football.
- READ MORE: Opta give Liverpool fans new reason to beg FSG for Trent Alexander-Arnold and Mohamed Salah renewals
Man United suffer big losses following Erik ten Hag sacking
Man United are not in the healthiest financial state at present and it has been revealed just how bad things are at Old Trafford.
According to ESPN, Man United were forced to pay a compensation bill of £14.5million to Erik ten Hag, his coaching team, and former sporting director Dan Ashworth following their dismissals in 2024.
The Manchester club’s quarterly accounts also highlight a £44.8m drop in broadcasting revenue in 12 months as the Red Devils have been without Champions League football this season.
The money lost on getting rid of Ten Hag, his coaching team, and Ashworth is more than Liverpool lost in 2023 as the Reds’ losses for that year were £6.9m, according to Liverpool’s annual report.
FSG have not got everything right at Liverpool, far from it, but the American owners have never put the club at risk with reckless spending.
The frustrations of Reds fans is understandable when witnessing other Premier League clubs splash the cash every transfer window, but FSG do what they do for a reason.
No Premier League club shops smarter than Liverpool
James Pearce believes Liverpool will make several changes this summer as Slot looks to keep his team competing at the top after a spectacular first season on Merseyside.
FSG’s ambition for the Merseyside club will be evident ahead of the 2025/26 campaign in how they support the Dutch coach and how they may approach it is explained by football finance expert, Adam Williams.
Speaking to RTK, Williams explains why Liverpool shop smarter than others and gives insight into how FSG operate on Merseyside.
“I understand the frustration from Liverpool fans who think FSG are too slow to react to market opportunities or pay a premium to sign and retain superstars,” Williams said.
“But if you speak to anyone in football finance, they’ll tell you that the owners are surgically precise with everything they do.
“Everything is fully costed and, if FSG choose not to renew a contract at the rate a player wants or sign a world-class player angling for a move, it’s because they don’t think it represents good value.“
“Looking at Man United’s financial results, you can see where a trigger-happy approach gets you. They are haemorrhaging cash.
“No one shops smarter than Liverpool. I think missteps like the Darwin Nunez deal are the exception that proves the rule.
“Their cost control has been excellent. The wages-to-turnover ratio has remained at around 65 per cent for years now. That’s higher than some of their peers in the Big Six but, crucially, is sustainable.
“As for the ‘net spend table’, it’s basically fiction. There is far more of a correlation between wage spending and success than there is with headline transfer spending.
“FSG’s ultimate aim is capital growth. They want to increase the value of the business by demonstrating profitability in the long term, with a view to one day selling Liverpool at a colossal markup.
“On the one hand, that means we aren’t going to see the Hollywood signings that some fans expect. But I think most big clubs realise the spending level they have reached simply isn’t sustainable, and Liverpool’s more measured approach will become the norm.“
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